Fresenius Kabi to invest 30 mn euros in Dabur’s API plant
Fresenius Kabi, which acquired the Burmans’ pharma business early this year, will invest around 30 euros million in the active pharmaceutical ingredient (API) plant of Dabur Pharma.
By ET Bureau |
NEW DELHI: Fresenius Kabi, which acquired the Burmans��� pharma business early this year, will invest around 30 euros million in the active pharmaceutical ingredient (API) plant of Dabur Pharma. The German firm has also announced that it has completed the acquisition of Dabur Pharma. Fresenius Kabi now holds 90.9 per cent in Dabur Pharma. In April, it had acquired 73.3 per cent stake from the Burman family and International Finance Corporation (IFC). It later acquired another 17.6 per cent stake through an open offer at Rs 76.50 per share.
The German company said on Tuesday that it has not decided whether to delist the company or sell 1% stake to adhere to regulatory norms. As per the regulations, the minimum non-promoter holding for a firm to remain listed on the stock exchanges is 10%. ���We plan to more than double the capacity of our API plant. The investment would be spread over the next three years,��� Fresenius Kabi president & CEO Rainer Baule said. The API plant is situated in Kalyani, West Bengal.
The firm also operates a formulation plant at Baddi.
Fresenius has replaced seven members of the board. Satish Kulkarni, who was earlier the marketing head of Fresenius Kabi Asia Pacific region has replaced Ajay Vij as the CEO of Dabur Pharma. Rakesh Bhargava, the MD & CEO of Fresenius Kabi India, has been appointed as the chairman of Dabur Pharma.
The German company said on Tuesday that it has not decided whether to delist the company or sell 1% stake to adhere to regulatory norms. As per the regulations, the minimum non-promoter holding for a firm to remain listed on the stock exchanges is 10%. ���We plan to more than double the capacity of our API plant. The investment would be spread over the next three years,��� Fresenius Kabi president & CEO Rainer Baule said. The API plant is situated in Kalyani, West Bengal.
The firm also operates a formulation plant at Baddi.
Fresenius has replaced seven members of the board. Satish Kulkarni, who was earlier the marketing head of Fresenius Kabi Asia Pacific region has replaced Ajay Vij as the CEO of Dabur Pharma. Rakesh Bhargava, the MD & CEO of Fresenius Kabi India, has been appointed as the chairman of Dabur Pharma.
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